This week, the lamb market saw significant progress during early trading, driven by the urgent need of processors to secure the limited supplies of properly-finished slaughter lambs entering saleyards.
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Prices surged on Monday for leading runs of trade lambs, with quotes ranging $10-$20 a head higher.
However, the market displayed restraint for lambs lacking adequate fat cover and carcase finish, resulting in a two-tier price system based on quality.
This difference underscores the scarcity of good-quality lambs across Victoria and NSW, reflecting in premium prices for quality processing lambs.
The National Livestock Reporting Service reported at Corowa, NSW, that well-finished trade lambs commanded an average of 750 cents a kilogram carcase weight, with top pens fetching more than 800c/kg.
Lambs weighing between 23-26kg fetched prices ranging from $168-$207 amid intense bidding, with supermarkets vying for market dominance.
Notably, supermarkets even ventured into heavy lambs, with one buyer acquiring lambs weighing 29kg.
Heavy lambs, albeit limited, saw prices ranging from $172-$233.
Bendigo witnessed an increase in numbers, with 11,385 lambs and 4005 sheep entering the market as a full trading week resumed post the Anzac Day public holiday.
The majority of the yarding comprised of heavy, grain-assisted lambs, with few trade types available.
This imbalance influenced price dynamics for trade lambs, which sold well above 700c/kg.
However, the limited availability of quality pens did not significantly impact overall price averages, with most prices rising by $2-$8.
Heavy lambs weighing over 30kg saw robust demand, selling from $200-$254.
On the light lamb front, the reopening of Middle Eastern destinations for business led to higher prices, while plainer types remained unchanged.
In the mutton sale, prices faced downward pressure, particularly for heavy mutton, with most sheep witnessing a decline of $8-$12.
Sheep mainly sold within the range of $50-$80, irrespective of weight, averaging between 230-280c/kg.
Market dynamics have been anything but stable lately.
Unfortunately, this volatility doesn't seem to be abating anytime soon.
Nowhere was this more apparent than at the Ballarat lamb market on Tuesday.
Despite hopes for a continuation of favourable outcomes from the previous day, prices failed to align.
Initially, the market kicked off strongly, only to weaken as the sale progressed.
Ultimately, prices settled near the levels recorded in the preceding week.
The majority of lambs ranged between 650-690c/kg.
